In and effort to keep North Texas Home Buyers and Sellers in SYNC with up to date housing information it appears that for now housing prices have hit bottom and are starting to move higher. Home prices moved up in February, March and April reversing the steady decline since July of 2007. What is interesting is that the current affordability has improved noticeably compared to 2005 and even before. The chart below goes back to 2005.
The problem is that once the supply and demand imbalances normalize we will begin to see the real effect of inflation which will tend to cause prices to rise. This means waiting is more likely to become a financially problematic issue for families needing homes.
You can view the NAR Chart and read more about the changing U.S. housing market by CLICKING HERE:
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